Securities and Exchange Commission,
The "FIDUCIARY RULE" gives the most inexperienced investor confidence that his or her advisor's advice has no hidden conflicts of interest because "IF" caught placing the Firm's profit ahead of the client the Advisor should be barred for life from any position handling money or assets of any kind. The firm in turn should be fined 800x the loss incurred by the investor and audited every quarter for the quality of advice rendered. The real rule is watered down milk-toast in comparison to my assessment of how high a priority this is to one who lost 10-yrs of savings in the Wachovia fiasco that was NEVER investigated or mentioned for prosecution to the full extent of the law. The liability of malfeasance should result in an 800% "CLAWBACK" of benefits and/or compensation from the top 10 executives in any guilty corporation as enforcement of Standards must come from the TOP; and this is where the AXE must fall not on some pip-squeak quisling broker. WHY? Because the core (s enior-mgt)of the APPLE is rotten and the blemished broker is but a scapegoat symptom of the real issue =>> 'Lack of Fiduciary Responsibility from the Top Down!!! Dan